With record-high levels of imported freight and over-congested ports, capacity continues to be utilized to move freight in land. Higher levels of freight mean that more freight will move from shore to distribution networks within North America. This means, demand is high for intermodal service as well as highway. Peak seasons are in full swing and tender rejections continue to be high, meaning that shippers will need to secure capacity at increased rates.
“Increased durable goods demand has exacerbated the trade imbalance between the U.S. and China and caused shipping rates to hit record levels moving across the Pacific. This has also led to maritime operators neglecting U.S. exporters by moving empty containers back to Asia without cargo in order to take advantage of the pricier and more lucrative freight moving east.”
More details here.